MicroStrategy reported second-quarter earnings, reporting a net loss of $102.60 million, or $5.74 per share, compared with revenue of $22.20 million, or $1.52 per share, in the same period last year.
The loss was due to the company taking a $180.10 million impairment provision on its bitcoin holdings, compared to $24.10 million in the second quarter of last year.
As of July 31, MicroStrategy held 226,500 bitcoins, an increase from mid-June, the report showed. The 226,500 bitcoins were bought for $8.30 billion, an average of $36,821 each. At current prices of $63,500, the assets are worth about $14.40 billion.
The company said its "BTC yield" is 12.2% so far this year, and it aims to reach 4% to 8% annually for the next three years.
MicroStrategy second quarter net loss of $102.60 million, bitcoin holdings rise to 226,500
2024-08-01 21:25:23
Microstrategy announcement second quarter financial report second quarter net loss loss 1.026desk3cryptocurrencydesktopCrypto News
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